Scotiabank Cuts Nexxen International (NASDAQ:NEXN) Price Target to $10.00

Nexxen International (NASDAQ:NEXN) had its price target decreased by Scotiabank from $12.00 to $10.00 in a report published on Thursday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other research analysts have also recently commented on the company. Canaccord Genuity Group dropped their price target on Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Craig Hallum lowered Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a report on Thursday, November 13th. Royal Bank Of Canada lowered their price objective on Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Rosenblatt Securities upped their price objective on shares of Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citizens Jmp cut their target price on shares of Nexxen International from $15.00 to $12.00 and set a “market outperform” rating for the company in a research report on Friday, November 14th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.28.

Nexxen International Trading Down 0.3%

NASDAQ:NEXN opened at $7.46 on Thursday. Nexxen International has a 12 month low of $5.60 and a 12 month high of $12.60. The company has a current ratio of 1.29, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $6.22 and its 200 day moving average is $7.48. The stock has a market capitalization of $419.88 million, a PE ratio of 18.20 and a beta of 1.69.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. Nexxen International had a return on equity of 9.47% and a net margin of 6.87%.The business had revenue of $100.71 million during the quarter, compared to analyst estimates of $100.39 million. Sell-side analysts expect that Nexxen International will post 0.25 earnings per share for the current year.

Nexxen International declared that its board has approved a share buyback program on Thursday, November 20th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Nexxen International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JB Capital Partners LP lifted its holdings in Nexxen International by 1.8% during the 2nd quarter. JB Capital Partners LP now owns 3,555,097 shares of the company’s stock worth $37,009,000 after purchasing an additional 62,540 shares in the last quarter. Rock Point Advisors LLC grew its holdings in Nexxen International by 42.5% during the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock valued at $6,216,000 after buying an additional 283,295 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Nexxen International by 1,062.0% during the second quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after buying an additional 465,936 shares during the period. ARK Investment Management LLC bought a new stake in shares of Nexxen International during the third quarter valued at about $1,798,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Nexxen International in the third quarter worth about $1,239,000. 54.24% of the stock is currently owned by institutional investors.

About Nexxen International

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. The company's demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.